China's Air Pollution Problem Is Following Industries West: CREA
Xinjiang in the northwest surpassed Henan to become the most polluted region in the country during the first quarter, while Guangxi saw its concentration of airborne particulates rise 32% in the period compared with the year before, according to the report. That contrasts with a drop of 5% for the nation overall, driven largely by a reduction in coal power generation.
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Hong Kong's CK Hutchison seeks Chinese investor to join Panama Ports deal
HONG KONG (AP) — A Hong Kong conglomerate that's selling ports at the Panama Canal said Monday it may seek a Chinese investor to join a consortium of buyers, a move that could please Beijing but bring more U.S. scrutiny to the geopolitically fraught deal. CK Hutchison Holdings' initial plan to sell its port assets to a group that includes U.S. investment firm BlackRock Inc. pleased President Donald Trump, who has alleged that China interferes with the critical shipping lane's operations in Panama. However, they apparently angered Beijing and drew a review from Chinese anti-monopoly authorities. A Beijing-backed newspaper posted scathing commentaries about the deal, with one describing it as a betrayal of all Chinese. Beijing's offices overseeing Hong Kong affairs have reposted some of these commentaries, widely seen as an indication of Chinese leaders' stance. A Hutchison subsidiary has operated ports at both ends of the Panama Canal since 1997. After months of uncertainty brought by tensions between Washington and Beijing, Hutchison said in a statement that the exclusive negotiations period with the consortium has expired. However, it added 'the Group remains in discussions with members of the consortium with a view to inviting major strategic investor from the PRC to join as a significant member of the consortium,' referring to the People's Republic of China. It said they needed to change the membership of the consortium and the structure of the transaction for the deal to be able to pass reviews by 'all relevant authorities." The awkward position Hutchison found itself in for months highlights the challenges Hong Kong business elites face in navigating Beijing's expectations of national loyalty, especially when relations between China and the United States are strained. Hong Kong has overhauled its electoral system to ensure the city is run by 'patriots.' CK Hutchison is owned by the family of Hong Kong's richest man, Li Ka-shing. It announced March 4 that it would sell all its shares in Hutchison Port Holdings and in Hutchison Port Group Holdings to the consortium that also includes BlackRock subsidiary Global Infrastructure Partners and Terminal Investment Limited, a subsidiary of the Mediterranean Shipping Company. In May, Hutchinson co-managing director, Dominic Lai told shareholders that Terminal Investment was the main investor. Its parent company is led by Italian shipping scion Diego Aponte, whose family reportedly has a longstanding relationship with Li's. The initial deal, valued at nearly $23 billion including $5 billion in debt, would have given the consortium control over 43 ports in 23 countries, including the ports of Balboa and Cristobal, located at either end of the canal. That agreement also required approval from Panama's government. The deadline for their exclusive negotiation period ended on July 27. Kanis Leung, The Associated Press
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26 minutes ago
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Hong Kong's CK Hutchison seeks Chinese investor to join Panama Ports deal
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Specifically, the Power of Siberia 1 pipeline is expected to reach its full capacity of 38 billion cubic meters (bcm) by 2025, and a new pipeline, Power of Siberia 2, is planned to further increase exports to China by an additional 50 bcm per year. Russia is also exploring other potential pipeline routes to China, including one that would transit through Kazakhstan. This could further expand export capacity and provide alternative routes to diversify supply. Second, trade tensions between Washington and Beijing have forced China to halt U.S. LNG imports since March 2025 after Trump slapped a punitive 125% tariff on its key trading partner. Consequently, China redirected purchases to Asian suppliers like Qatar and Indonesia. Third, weak industrial demand due to slowing growth by China's industrial and chemical sectors has taken a toll on gas demand. 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Falling Chinese demand is also depressing Asian spot LNG prices, with prices dropping to $11/MMbtu in May 2025 from a February peak of $16.50/MMBtu. Chinese buyers tend to turn to pipeline gas and domestic production whenever Asian gas prices exceed $10/MMBtu. Finally, the halt of U.S. LNG exports to China threatens long-term contracts worth 20 million tons per year with U.S. suppliers. Chinese LNG buyers are now reselling U.S. cargoes to Europe and also seeking new deals with Asia-Pacific and Middle Eastern suppliers, undermining U.S. export growth. Meanwhile, China's pivotal crude oil sector is facing serious headwinds, too. Last year, China experienced a decline in transportation fuel demand, marking a significant shift away from the historical trend of increasing demand. China's consumption of gasoline, jet fuel and diesel in 2024 was ~8.1 million barrels per day, 2.5% below 2021 levels and just above 2019 levels. This decline was primarily driven by a combination of factors including a shift towards electric vehicles, a slowdown in the construction sector, and a weakening in consumer spending. Indeed, the International Energy Agency (IEA) has predicted that combustion uses of petroleum fuel in China has already plateaued. By Alex Kimani for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
